Greystone Logistics FY26 net loss widens to $(8.24 million); sales drop 52% to $27.54 million - GLGI News | RalliesGreystone Logistics FY26 net loss widens to $(8.24 million); sales drop 52% to $27.54 million
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GLGI• Fiscal 2026 results
- Greystone Logistics posted a net loss of $(8.24) million, or $(0.30) per share, for fiscal 2026, swinging from profit a year earlier.
- Sales fell 52% to $27.54 million, on an approximately 60%-65% demand drop from two major customers.
- Cost of sales rose to 106% of sales, up 23 percentage points, as lower production hit absorption of inflexible manufacturing costs.
- SGA expenses edged down 6.59% to $6.05 million, with tighter controls implemented after the loss of a major customer.
- Working capital deficit totaled $(7.86) million; lenders granted interest-only payments on certain debt through Dec. 31, 2026.
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